2-year (TS) most-active contract up 0.02%, 5-year (TF) most-active up 0.02%, 10-year (T) most-active up 0.02%, 30-year (TL) most-active down 0.23%.

After an early dip-and-rebound, A-shares slid again at midday. Shanghai Composite -0.53%, Shenzhen Composite Index -0.43%, ChiNext -0.47%, Beijing 50 +0.41%, STAR 50 -4.22%. Half-day turnover 1.48 trillion yuan, up 151.6 billion yuan vs the prior session. Market breadth was positive with more than 3,400 advancers; C Changxin rose over 3.7% to 48.75 yuan on turnover near 24 billion yuan. Consumer names outperformed: dairy stocks led gains with Yiming Food on a second straight limit-up and Liangpin Puzi, Nanqiao Food, Huanlejia, Yangguang Dairy, Liziyuan, Tianrun Dairy and Junyao Health at daily limits. Education stocks climbed (Chuanzhi Education three-day limit-up; Zhonggong Education, Quantong Education at limits). Electric-grid equipment and solid-state-battery names also rallied, including Sanbian Technology, Haixing Electric Power, Jinlongyu and Lingpai Technology. Photolithography and memory-chip sectors weakened sharply: Maolai Optics fell more than 15%, Xinqi Weizhuang, Bochang Photonics, Lanying Equipment and Xinlai Yingcai plunged; memory-chip names such as Yake Technology, Zhaoyi Innovation, Tongfu Microelectronics, Zhipure Technology and Tongcheng New Materials hit or approached limit-down.

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